Novae Re to expand into credit and surety

Novae Re, the Switzerland-based reinsurance arm of Lloyd’s insurer Novae, is to start underwriting credit and surety business. The reinsurer has appointed a new team to underwrite the business.

Stefan Lorenzini will head the new credit and surety division. He previously held senior underwriting and management positions in Swiss Re, most recently with responsibility for Europe and Asia. Before joining Swiss Re, Stefano held various positions at DG Bank in commercial banking and at Credit Suisse in export finance.

Rodolfo Bretscher has been appointed as Regional Head, Credit & Surety with responsibility for continental markets. He was previously a director and head of surety at Italian credit insurance firm SACE Group. He also previously held senior positions at Swiss Re in credit and surety reinsurance and business development.